Oakville business owner facing multiple fraud charges

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Published July 12, 2023 at 1:49 pm

An Oakville business owner is one of two men facing multiple charges of defrauding investors.

Halton police’s Regional Fraud Unit received reports from more than 20 people who invested in “OOM Energy” (also known as MCS Energy). The arrests were the culmination of a three-year police investigation.

More than $3 million was loaned to OOM Energy by private investors in respect to projects that involved the installation of electrical generators.

Police say OOM Energy misled victims to believe their investments were guaranteed by an insurance program, and were also supplied with forged insurance documents.

The owner of OOM Energy, Craig Hugh Clydesdale, 65, of Oakville, and insurance broker, Thomas Craig McBeath, 61, of Markham have both been charged with multiple counts of fraud over $5,000 and forgery related offences.

It is believed there may be more victims and witnesses in the community. Anyone with further information is asked to contact Det.-Const. Ed Spence at 905-465-8746.

Tips can also be submitted anonymously to Crime Stoppers at 1-800-222-8477 or at the website.

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